Business Update14 Feb 2024, 09:34 pm
RACL Geartech Ltd nominated as Tier 1 supplier for electric car parking lock mechanism
AI Summary
RACL Geartech Ltd has been nominated as a Tier 1 series supplier by a Premium Car manufacturer in Germany for the supply of Parking Lock Mechanism for electric cars. The company will be manufacturing the entire assembly of the product, which is a kind of diversification within its core competence of Precision machining & assembly. The development process shall commence immediately & series production of this product is expected to commence from FY 2026-27 onwards.,
Key Highlights
- Nominated as Tier 1 supplier for electric car parking lock mechanism
- Diversification within core competence of Precision machining & assembly
- Series production expected to commence from FY 2026-27 onwards